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Posted

I noticed we dropped another .2 points on the month of Sept. I wonder how long they will continue to ignore this number.

 

It's worse than that, they also revised the previous two months downward. Let me pull a few of today's articles from ZeroHedge...

 

http://www.zerohedge.com/news/2015-10-02/payrolls-disaster-only-142k-jobs-added-september-zero-wage-growth-august-revised-muc

 

September: 142K, missed consensus estimate by 60K

August: now 136K, was 173K -> huge drop

 

http://www.zerohedge.com/news/2015-10-02/participation-rate-crashes-americans-not-labor-force-soar-579000-record-946-million

 

Labor participation rate drops to 148.8M (down 579K); 7.6M unemployed; people not in the labor force is now 94.6M -> 251.0M people that *could* work (the other ~60M people in the country are too young or otherwise unable to work).

 

The number of people that are able to work increases by about 200K per month on average, so any hires less than is considered bad.

 

Then you look at who got hired and who lost their jobs.

 

http://www.zerohedge.com/news/2015-10-02/feudal-recovery-continues-21000-waiters-added-9000-manufacturing-workers-lost

 

We're getting a lot more food service staff, working part time to magically miss the Obamacare limits, and lost a lot of manufacturing jobs. These are not the kinds of jobs that buoy an economy.

  • Upvote 1
Posted

It's worse than that, they also revised the previous two months downward. Let me pull a few of today's articles from ZeroHedge...

 

http://www.zerohedge.com/news/2015-10-02/payrolls-disaster-only-142k-jobs-added-september-zero-wage-growth-august-revised-muc

 

September: 142K, missed consensus estimate by 60K

August: now 136K, was 173K -> huge drop

 

http://www.zerohedge.com/news/2015-10-02/participation-rate-crashes-americans-not-labor-force-soar-579000-record-946-million

 

Labor participation rate drops to 148.8M (down 579K); 7.6M unemployed; people not in the labor force is now 94.6M -> 251.0M people that *could* work (the other ~60M people in the country are too young or otherwise unable to work).

 

The number of people that are able to work increases by about 200K per month on average, so any hires less than is considered bad.

 

Then you look at who got hired and who lost their jobs.

 

http://www.zerohedge.com/news/2015-10-02/feudal-recovery-continues-21000-waiters-added-9000-manufacturing-workers-lost

 

We're getting a lot more food service staff, working part time to magically miss the Obamacare limits, and lost a lot of manufacturing jobs. These are not the kinds of jobs that buoy an economy.

 

Wow, sounds like a restatement. If a public company did that they would be looking at not only some fines but also having to issue an entire new report and discuss the reasoning and nature of the misstatement, the auditor could face SEC penalties and possible litigation too.

Posted

Wow, sounds like a restatement. If a public company did that they would be looking at not only some fines but also having to issue an entire new report and discuss the reasoning and nature of the misstatement, the auditor could face SEC penalties and possible litigation too.

Generally the President's administration likes these kinds of errors because it makes them look better than (falsely).

 

I've heard Peter Schiff state multiple times that the Federal Reserve won't raise interest rates this year because he thinks they can't due to the poor state of the economy. What's sad is how few people connect the immorality of the whole situation that the FR needs a good economy to raise interest rates directly implicating it in making the economy worse, or stealing from the economy, with control of the interest rates. You can only steal food from the livestock when it won't kill the herd and hurt your overall and longer term ability to steal. The healthier and more abundant the economy the more they can steal (via raising interest rates). The fact that it has gotten down to zero means they've harmed the economy pretty badly and it's lingering on the brink.

Posted

The Fed has been talking about raising the interest rate by 0.25% (one quarter of one percent), but even that insignificant amount could cause too much damage, especially for people who carry large sums of debt.

  • 1 month later...
Posted

Labor Force Participation Remains at 38-Year Low; 94,513,000 Not in Labor Force; Unemployment Ticks Down to 5.0%

 

Unemployment always drops around the holiday season (eg. Amazon hiring 100K for holidays) and then spikes back up right afterward, and then politicians blame the weather for the poor economic news (it's either too cold or too hot to go shopping).

 

The government unemployment statistic is a complete lie. How can unemployment be 5% when only 157M people, out of 330M, don't work?

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